South African Stocks Slide as China Tech Probe Weighs on Naspers

South African Stocks Slide as China Tech Probe Weighs on Naspers
Lukas Strobl, Bloomberg News
A Naspers Ltd. logo is displayed on a large electronic screen during the company's extraordinary general meeting in Cape Town, South Africa on Friday, Aug. 23, 2019. Africa’s largest company by market value is creating a new entity called Prosus NV to hold assets including a 31% stake in Chinese internet giant Tencent Holdings Ltd. that’s worth about $125 billion. Photographer: Dwayne Senior/Bloomberg
, Bloomberg
(Bloomberg) -- South Africa’s main equities index declined, led by Naspers Ltd. and its Prosus NV unit after Hong Kong-listed Tencent Holdings Ltd. slumped amid a widening Chinese antitrust probe of the technology sector. With a stake of about 31%, Prosus is Tencent’s largest shareholder.

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